All Forum Posts by: Edna Salinas

Goodegg has stopped distributions on the offering I bought a couple of years ago, called Congaree Villas, and has not been forthcoming with revised financial projections that explain why it has done so--even though it says the property is still cash flow positive and has adequate reserves. It has provided no estimate of when distributions will be resumed.
Nonetheless, it continues its barrage of self-promotion and continues to project large profits on current offerings.
The proof is in the pudding. I am 80 years old and rely on investments for retirement income. I have to caution would-be investors: Don't count on the returns they say they expect to achieve. It's hype, not substance.

BUYER BEWARE!

Hi, I am looking for passive investment similar to PPR note funds. Any suggestions?

I have already invested in PPR note funds (10% 3 years income & liquidity) and GSP. I want to diversify and invest in some other companies.

thank you for your suggestion

Gilbert

Mobile Home Park > Self Storage > MF

It’s been almost 2 years since I’ve invested with sunrise.  They do just about every month or so investor calls and K1 has been prompt.  If a 10 year investment horizon is an issue than this is definitely not for you.  It’s mobile home parks and parking lots so it’s not a quick flipping syndication or anything like that.  It’s stable cashflow and long term appreciation and tons of accelerated bonus depreciation on taxes. like most anything in real estate it’s a long term play. 

Quote from @David Morovitz:

I am researching Mobil Home Park funds and seem to keep circling back to Sunrise Capital Investors and Wellings Capital.  Any pros/cons on either or any other operator suggestions would be greatly appreciated.  Thank you!

I’ve invested with both wellings and sunrise   Wellings invests in other peoples funds   They do the due diligence on various operators and invest in only the best ones.  Their funds are very diverse in mobile home parks, self storage , industrial, Multifamily, etc   So they are like a fund of funds. Sunrise on the other hand invests in mobile homes and parking lots for the most part.  They buy and source their own deals.  I’ve had great experiences with both wellings and sunrise.  

I have been checking out mobile home park and self storage operators and came across Wellings capital. Apparently they are not the operator but find deals for investors. Any feedback from anyone who has invested with them would be greatly appreciated. I signed up for their upcoming webinar.

I have since looked at the underwriting on the two assets they will place or have placed in the Fund. They seem fine. I don't think Ashcroft has any issues with generally how they underwrite. I have gotten a number of mistakes in the distributions, but they always seem to correct them and say that their new system will obviate that kind of thing going forward. I think the only two issues that I think about as I contemplate signing on are the speed with which they have been growing, and the fact that they are just now moving to being vertically integrated -- their property management and renovation teams are all in-house now -- not 3rd party like they used to be. They also shuffled their fees around to reflect this. It's probably a good thing, but as you can see, the theme here is growth management -- can they keep growing successfully, or will they encounter sheering forces that cause a problem? I think the odds are pretty good that they bring all hands on deck and make the step up to the big time in 2021-22.

Quote from @Edna Salinas:

Quote from @Adrienne Binder:

@Jason Malabute We invested in Fund II both class A and B. Consistent distributions for class A and Class B should start before the end of the year. Strong performance so far. We recommended to our friends who are also investing in Fund III. I spent an extensive time researching companies before getting in to multi family and BAM is definitely at the top of our list.

After 11 months since your last reply, how do you feel about BAM now? Thanks.

Class A is distributing faithfully at 10% every month. Class B is not but neither is our GoodEgg Clasc B this quarter or our Praxis one. Companies are having to set aside a certain percentage to cover the Cap Rate insurance and as an abundance of caution with these interest rates- class B are paused. Still very happy though. Assets are performing well and hopefully in 4-6 years things will level off and we’ll see our return along the way at some point or at disposition. 

@Jason Malabute We invested in Fund II both class A and B. Consistent distributions for class A and Class B should start before the end of the year. Strong performance so far. We recommended to our friends who are also investing in Fund III. I spent an extensive time researching companies before getting in to multi family and BAM is definitely at the top of our list.